Big Shoulders Capital Closes $1.2MM ABL
Big Shoulders Capital, in conjunction with a joint venture partner, sourced and closed a one-year asset-backed loan of $1.2-million for a transportation company located in the Northeast.
The loan is secured by the company’s fleet of motor coaches and buses. Working closely with all parties involved, Big Shoulders Capital funded the loan in an accelerated manner, and has been asked by the borrower to lend against additional new collateral.
“One of the differentiating characteristics of our company is creativity,” said Big Shoulders VP Alex Mazer. “We structured a flexible payment plan for this borrower to accommodate seasonality. This tailored solution allowed for an effective refinancing of the borrower’s maturing debt.”
Big Shoulders Capital has structured asset-based financing for dozens of small and middle-market companies across the United States. “Our deep experience in manufacturing and a broad range of industrial sectors enables us to quickly assess the value inherent in a company’s assets and deliver a financial solution that works,” said Todd DiBenedetto, president of Big Shoulders Capital.